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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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InterGlobe Aviation to hold board meeting
Oct 27,2016

InterGlobe Aviation will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the unaudited financial results of the Company for the quarter ended September 30, 2016 subject to a limited review by the Statutory Auditors.

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Ojas Asset Reconstruction Company to hold board meeting
Oct 27,2016

Ojas Asset Reconstruction Company will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider Unaudited Financial Results for the quarter and half year ended September 30, 2016 along with Limited Review Report on the same.

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Facor Alloys to hold board meeting
Oct 27,2016

Facor Alloys will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the un-audited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Shriram EPC to hold board meeting
Oct 27,2016

Shriram EPC will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider the unaudited financial results of the Company for the quarter ended September 30, 2016.

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Gulshan Polyols to hold board meeting
Oct 27,2016

Gulshan Polyols will hold a meeting of the Board of Directors of the Company on 5 November 2016 To recommend an interim dividend for the FY 2016-17 & Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2016 (Q2);

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Board of Info Edge (India) recommends dividend
Oct 27,2016

Info Edge (India) announced that the Board of Directors of the Company at its meeting held on 27 October 2016, inter alia, have recommended the dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Sujala Trading & Holdings to hold board meeting
Oct 27,2016

Sujala Trading & Holdings will hold a meeting of the Board of Directors of the Company on 14 November 2016 Audited Financial Results for the Quarter/Half year ended September 30, 2016 along with other routine business

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Radha Madhav Corporation to hold board meeting
Oct 27,2016

Radha Madhav Corporation will hold a meeting of the Board of Directors of the Company on 12 December 2016 Un-Audited Financial Results for the Quarter ended September 30, 2016.

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Volumes jump at Future Enterprises counter
Oct 27,2016

Future Enterprises clocked volume of 55.05 lakh shares by 15:01 IST on BSE, a 58.09-times surge over two-week average daily volume of 95,000 shares. The stock rose 0.32% to Rs 15.85.

Lovable Lingerie notched up volume of 3.70 lakh shares, a 24.92-fold surge over two-week average daily volume of 15,000 shares. The stock rose 6.52% to Rs 291.50.

PNB Gilts saw volume of 35.13 lakh shares, a 17.25-fold surge over two-week average daily volume of 2.04 lakh shares. The stock jumped 18.28% to Rs 36.55.

Umang Dairies clocked volume of 5.44 lakh shares, a 13.92-fold surge over two-week average daily volume of 39,000 shares. The stock surged 8.43% to Rs 93.30.

Indian Hotels Company saw volume of 6.80 lakh shares, a 12-fold rise over two-week average daily volume of 57,000 shares. The stock lost 5.27% to Rs 115.

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Shivam Autotech to hold board meeting
Oct 27,2016

Shivam Autotech will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and take on record the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Lokesh Machines to hold board meeting
Oct 27,2016

Lokesh Machines will hold a meeting of the Board of Directors of the Company on 5 November 2016 to Consider the un-audited Financial Results for the quarter ended September 30, 2016 & Conversion of 3,96,722 warrants to Equity shares (ie this warrants issued as on May 11, 2015)

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Valley Magnesite Company to hold board meeting
Oct 27,2016

Valley Magnesite Company will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the Unaudited Financial Results of the Company for the 2nd quarter and Half Year ended September 30, 2016.

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Gromo Trade & Consultancy to hold board meeting
Oct 27,2016

Gromo Trade & Consultancy will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider The Unaudited Financial Result for the quarter and half year ended September 30, 2016 along with Limited Review report.

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FICCI signs MoU with India New Zealand Business Council to organize Education Summit in Auckland in 2017; with Indian-NZ Trade Alliance
Oct 27,2016

The Federation of Indian Chambers of Commerce and Industry (FICCI) and India New Zealand Business Council (INZBC) signed a Memorandum of Understanding (MoU) on the side lines of the visit of the Prime Minister of New Zealand to India. The MoU is for collaboration for organizing an Education Summit Edutech 2017-Knowledge, Skill, Technology in Auckland in 2017.

Since education has been identified as one of the focussed sectors for collaboration between the two countries, the Summit would provide an ideal platform for bringing the people involved in the education sector on a common platform. The Summit is supported by the New Zealand Government.

It is noteworthy that a number of members on the official business delegation of the Prime Minster of New Zealand are from the higher education sector and key members were present at this MoU signing.

FICCI also signed a MoU with India Trade Alliance, New Zealand, to work together for taking initiatives for further enhancing India-New Zealand trade relations.

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Major Ground Level Changes in Investment Climate: CII President
Oct 27,2016

n++On the ground, there have been significant changes in Ease of Doing Business which are insufficiently captured in the latest World Bank Doing Business rankings. The Government has made much effort to improve the investment climate through a range of measures, including small enterprises, labour regulations, environmental clearances, and company registrations, among others,n++ said Dr Naushad Forbes, President, Confederation of Indian Industry (CII).

n++This years Doing Business report takes into account the position as of June 1, and therefore does not include crucial changes such as GST and the Insolvency and Bankruptcy Code which are taking effect later,n++ noted Dr Forbes.

n++The Doing Business report recognizes Indias reforms in key parameters, but measures the investment climate only in Delhi and Mumbai. Many reforms that have taken place with the monitoring of DIPP at the state level are not considered and do not reflect in the countrywise ranking,n++ pointed out Dr Naushad Forbes.

n++CII has been working closely with all stakeholders including the World Bank, DIPP, and state governments as also industry to identify and resolve roadblocks to Ease of Doing Business. We find that the situation has significantly improved and we appreciate DIPPs constant focus on improving the investment climate,n++ added Dr Forbes.

The World Bank Doing Business 2017 report includes reform policies completed by June 1, 2016. Further, it considers the investment climate and procedures implemented in two cities of Mumbai and Delhi. As such, most of the progress taking place across the state governments is not incorporated in the Report.

The Central Government has undertaken major policies in areas pertaining to legislation, which will translate into outcomes shortly. The progress on the Goods and Services Tax (GST) is an outstanding example of Center-State coordination and the introduction of the tax next year will transform the business environment and add to growth rates. Besides, the Insolvency and Bankruptcy Code will enable businesses to exit smoothly, said CII in its release.

Noting the pace of reforms under DIPPs Ease of Doing Business mission, CII added that online administrative processes have been introduced rapidly. The Single Window Interface for Trade (SWIFT) provides approvals and integrates nine departments for facilitation of imports. INC-29 merges getting Director Identification Number, Name Approval and Incorporation into a single form, thereby reducing time taken for incorporation of a company. The World Bank does not recognize this since a third of new companies have used this platform from its inception in 2015 rather than half as required by the metric.

Several measures introduced by the Central Government to facilitate micro, small and medium enterprises such as streamlining of inspections and self-certifications are also not part of the ten indicators covered by the World Bank. There has been considerable progress in these areas, said CII. In addition, online registration of ESIC and EPFO, as also other simplifications in labour regulations are not included in the ranking list.

On environmental and forest clearances too, the Central Government has taken steps for fast-tracking approvals.

The states have undertaken many reforms for Ease of Doing Business, emphasized CII. For example, in starting a business, Punjab, Odisha, Andhra Pradesh and others have set up centers to clear new proposals in a time-bound manner. Many states have moved quickly on land acquisition, industrial clusters, and land banks. On labour reforms, Jharkhand, Rajasthan and Madhya Pradesh have worked on registration and licensing under various labour Acts. Maharashtra, Madhya Pradesh, Sikkim, and other states have introduced best practices in resolving commercial disputes, while Andhra Pradesh and Karnataka have facilitated payment of taxes.

n++The spirit of competitive and cooperative federalism is kindling focus by states on attracting investors by building facilitative investment climates,n++ noted Dr Forbes. n++As these procedures take time to evolve across the country, we are confident that the World Bank Doing Business Report in later years would reflect the improvement in Ease of Doing Business,n++ concluded the CII President.

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